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Snapchat remains teens' favorite and most used social platform, according to Piper Jaffray's 32nd semi-annual Taking Stock With Teens survey.

The new survey showed 80% of teens said they used Snapchat at least once per month, up from 75% in the spring 2016 survey. Meanwhile 35% called it their favorite social platform, up sharply from 24% in the spring 2016 survey.

Facebook's (NASDAQ: FB) Instagram was second with 79% using it at least once per month, up from 74% in the Spring survey. 24% called Instagram their favorite social platform, up from 23% in the spring.

Twitter (NYSE: TWTR) was third among teens, but is seeing declines. 56% said they used Twitter at least once per month (down from 58%) and 13% called it their favorite social platform (down from 16%).

52% of teens said they use Facebook (NASDAQ: FB) at least once per month, down from 60% in the Spring survey. While 13% called it it their favorite social platform, down from 15%.

Commenting on Facebook, analyst Gene Munster said: "Facebook saw declines in the percent of teens indicating they use the platform, which is likely the result of 1) declining engagement as new social platforms shift user behavior, 2) younger teens (less engaged) replacing older teens (more engaged) in survey population, and 3) shifting use case towards Messenger may actually be creating two separate social networks in teens’ minds. Decline in Facebook engagement is largely baked into buyside expectations. Instagram growing despite Snapchat popularity – difference between default public (Instagram) and default private (Snapchat) proving to be a defensive moat."